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What are we each entitled to in our divorce settlement?

What does the law say about how to split the house, how to share pensions and other assets, and how much maintenance is payable.

What steps can we take to reach a fair agreement?

The four basic steps to reaching an agreement on divorce finances are: disclosure, getting advice, negotiating and implementing a Consent Order.

What is a Consent Order and why do we need one?

A Consent Order is a legally binding document that finalises a divorcing couple's agreement on property, pensions and other assets.


Do you need help sorting out a fair financial settlement?

Our consultant service offers expert advice and support to help you reach agreement on a fair financial settlement quickly, and for less than a quarter of the cost of using a traditional high street solicitor.


Retaining gifted money from before marriage??

  • Jemima77
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27 Jun 12 #339562 by Jemima77
Topic started by Jemima77
I need some decent advice!

My husband and I have separated after 18 months of marriage (his decision) and I''m concerned about our situation. I was gifted a large amount of money prior to our wedding, and put some of it down as a significant deposit on what was to become the marital home - he put some down but not as much; because he is a higher earner he paid larger mortgage repayments but I have still put more money into the house overall;

On the sale of our house, would my larger investment be put ''into the pot'' and then be distributed, potentially unfairly? I don''t know whether the inevitable huge solicitors fees are worth it?

He has tied his money up in investments/pensions etc - that would have to go in the pot too, surely??

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27 Jun 12 #339568 by sexysadie
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In a marriage this short usually you take out what you put in, so you should get your money back and he will get to keep his investments. You would both be mad to fight about this through solicitors.

Best wishes,
Sadie

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27 Jun 12 #339616 by cookie2
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If there are children then this usually overrules the "take out what you put in" rule. Also if there was a lengthy period of cohabitation prior to marriage, this would also be taken into account.

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28 Jun 12 #339747 by Jemima77
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Luckily no kids involved - cohabited in rented accom for approx 4 years prior to wedding in 2010, bought house 6 months before wedding...

Just fear he will be unreasonable and unfair and don''t want to forgo solicitors and leave myself open to penny-grabbing of what''s mine... on the other hand, if we could be amicable we could do the divorce and Consent Order thing - minefield!

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29 Jun 12 #339821 by cookie2
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4 years cohabitation with an 18 month marriage, would count as a 5.5 year marriage. So not so short after all.

Still if you are both employed and self-supporting (or able to be) then there''s no reason why the pre-marital assets shouldn''t be maintained. Due to the marriage length though, you might have a bit more asset equalization. He might get a bit more, and you a bit less. But still it would not be a 50/50 split if it was not a 50/50 input.

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29 Jun 12 #339840 by Jemima77
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I can see what you''re saying...

However, my current salary + package (and also my future earning potential) is far far lower than his salary + package. The reason I put in so much money at the outset was due to the hope/intention of starting a family following our wedding. The expectation on both sides was that once that happened he would be supporting us financially so seemed fair for me to put in more money at the time...

He pays a lot of his salary into his pension every month and had kept all his savings tied away in shares etc... Would I be entitled to a share in his assets - would they also need to go in the pot??? I just want what''s fair...

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29 Jun 12 #339848 by cookie2
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Yes everything goes into the pot including his pension. If he wants a share of your pre-marital assets then you should certainly get a share of his too. He can''t have his cake and eat it.

"Fair" is very subjective, and not a word that is often used around here. Most people would say the divorce laws are not fair. Rather than looking for what''s "fair", you should aim for an outcome that you are both happy with.

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